Gurugram-headquartered digital-first wellness brand What’s Up Wellness has announced raising an undisclosed amount from a clutch of investors in their maiden angel fundraising round.
Prior to this, the company was bootstrapped and will be utilizing the amount raised through this round for team-building, scaling-up R&D, and strategic product development to launch new product categories, and towards furthering their brand-building efforts.
What’s Up Wellness’ latest funding round was led by Puneet Sehgal, ex-COO Hopscotch; Sahil Kukreja, Director, The Butternut Co.; Ritika Jaisinghani, Founder, Elaa; Maharshi Ganatra, Partner, MGA; and Ritesh Ritolia, MD & Partner, Boston Consulting Group. The round also saw participation from the founders of industry-leading consumer brands such as Soumya Kant, Co-Founder, Clovia; Deep Bajaj and Mohit Bajaj, Co-Founders of Sirona Hygiene; among other prominent investors.
“We are delighted to announce our first angel fundraising round and extremely thankful to the investors for backing us. As these are individuals who have already disrupted categories and have built large businesses, their backing is a great confidence booster for us. All the investors come with rich experience in building various consumer brands, and thus their learnings and guidance shall be invaluable and will enable us at What’s Up Wellness to grow at an accelerated pace in the near future,” said Sayantani Mandal and Vaibhav Makhija, Co-Founders, What’s Up Wellness.
They further added, “Our goal is to provide nutrition in an easy and fun-to-consume way, not limited to just gummies but in whatever way our customer demands. We are always actively listening to our customers; and after speaking to more than 30,000 customers of ours, we have been able to figure out what are the challenges they face daily and how we can solve them effectively without making our consumers put in any extra effort. We now have our growth roadmap ready for the next year and would be moving into heads-down execution mode.”
Speaking on his investment, Deep Bajaj, Co-founder, Sirona Hygiene said, “While nutrition is a promising and growing category, what struck me about Vaibhav was his clarity on creating this category with differentiated products while staying profitable! His grip on unit economics is commendable. It was a no-brainer to support him and Sayantani in this journey and I am sure they will do really well.”
What’s Up Wellness aims to make wellness fun and easy to consume with its multi-benefit, easily consumable gummies. The company was co-founded by Sayantani Mandal and Vaibhav Makhija in May 2021.
As of today, What’s Up Wellness has launched two flagship products – What’s Up Beauty Gummies for Hair, Skin, and Nails and What’s Up Sleep Gummies with muscle recovery and nerve relaxation.
While having developed a clear Hero Product strategy backed by a deep understanding of its user needs and intending to keep the brand unisex for the longer haul, the company soon plans to move into other categories as well and has three other products in the pipeline slated for launch in the next 3 months, which shall include stress-relief gummies and kids multi-vitamin gummies.
Moreover, by the 2nd half of the coming year, they plan to move into 2 more product categories - where their underlying brand mission will remain the same – to ensure that the products should not take more than 15 seconds of one’s time to be consumed.
The brand currently stands at an ARR of Rs 5 crore and aims to grow it to over Rs 12 crore over the next six months, with 5 new product launches planned. They are also on a path to increase their customer base to 2 lakh users from the current 40,000 users by the 2023 end.